It has been a positive end to the session for the Australian share market, finishing much the way the US markets did overnight. The local bourse opened higher, but continued to fluctuate throughout the session before gathering momentum in the last hour of trade and closing 0.39 per cent higher. The consumer discretionaries sector did the bulk of the heavy lifting this session, but we also saw some small gains in all of the big four banks.
At the closing bell the S&P/ASX 200 index closed 21 points up to finish at 5,359.
Over the week the index finished 11 points lower.
The value of trades was $5 billion on volume of 807 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), Westpac Banking Corporation
(ASX:WBC) and Telstra Corporation Limited
(ASX:TLS).
On the futures market the SPI is 20 points up.
US marketsLooking at Wall Street, US major indexes have risen over the four trading days this week: The Dow Jones Industrial Average has added 0.3 per cent. The S&P 500 Index has rose 1 per cent. The NASDAQ has added 1.8 per cent. The 100 Index has gained 1.55 per cent.
Company newsCarsales.com Limited
(ASX:CAR) has denied that it is currently considering a takeover bid or a sell-down of its shares in Icar Asia. The statement comes in response to media article which stated the online car sales company was actively considering a takeover bid for the Asian vehicle listings company. Shares in Carsales closed 3.04 per cent higher at $10.16.
Sydney Airport Limited
(ASX:SYD) has reported passenger numbers grew by 3.7 percent for October compared to the same time last year.
St Barbara Limited
(ASX:SBM) has announced it will repurchase US$33 million in senior secured notes as it looks to become net-cash positive.
Best and worst performersThe best performing sector was Consumer Discretionaries adding 1.8 per cent to close at 2,015. The worst performing sector was Staples, losing 0.3 per cent to close at 8,618 points.
The best performing stock in the S&P/ASX 200 was Myer, rising 14.42 per cent to close at $1.19. Shares in Isentia and Alumina also closed higher.
The worst performing stock was Whitehaven Coal, dropping 8.93 per cent to close at $2.55. Shares in Orocobre and Saracen also closed lower.
Commodities and the dollarGold is trading at $US1,209 an ounce and down $14.47 over the week.
Light crude is $0.43 lower to $US45.50 a barrel.
The Australian dollar is buying $US7395 and down 1.6 cents over the week.
